Pennsylvania-based Morgan Properties is expanding its footprint into the Fayetteville region with the acquisition of two Class A apartment communities totaling 642 units.
Morgan Properties purchased Westlake at Morganton and The Preserve at Grande Oaks from Walker & Dunlop on behalf of Morganton Development.
At present, Morgan Properties and the seller are not disclosing the price of the sale.
Now, Morgan Properties owns five apartment communities in the area, which equals 1,530 units.
“Since our entry into North Carolina in 2016, we’ve seen tremendous success in the Sunbelt region and continue to be opportunistic about acquisitions that increase Morgan Properties’ presence in these states,” said Jonathan Morgan, President of Morgan Properties JV. “While Class B has always been our niche, acquiring Class A communities in markets with high population growth and undersupply of multifamily housing, presents an exciting opportunity for Morgan Properties to bring our industry knowledge and top-notch customer service to new residents.”
“As the sixth largest city in North Carolina and home to the largest military base in the United States, Fayetteville has remained an attractive market for Morgan Properties since we acquired our first three communities there last year,” said Jason Morgan, President of Morgan Properties Special Situations & Principal. "We look forward to growing our presence in this attractive market and continuing to build our experience in Class A multifamily across the country.”
With the news of the acquisition, MP also announced plans to execute a $7M value-add enhancement to the communities it owns in the region, with changes to interior and the addition of smart home technology. Other amenities that communities can look forward to include a new clubhouse, dog parks, patios for grilling, a bike share program and more.
Photo provided by magnific.comWith Mother’s Day coming up this weekend, I’d like to give a shoutout to my wonderful mom, who has done so much to shape me into the person I am today. My mom, Jeanne Meador, is a brilliant example of a selfless, in
At center, Chancellor Darrell T. Allison and Juanette Council, Ed.D., vice chancellor for student affairs, cut the ribbon to celebrate the grand reopening of Fayetteville State University's newly renovated Spaulding Building, joined by campus leaders
FCEDC has officially moved its staff and operations to 611 W. Russell St. The 35,800- square-foot center was previously home to Homemakers Furniture and Interiors. Renovations began in the fall of 2025 and are expected to be completed in the next six to eight months. Currently, FCEDC staff are working within an open 7,500-square-foot floor plan as initial improvements progress.
